Annual wallix 2015 losses widen ensure development techdoctorhere
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The publisher Wallix significantly increased its personnel costs in 2015 by hiring 20 new employees, which caused an increase in its annual net losses to €1.11 million. Consequently, its turnover rose by 33%.
Following the hiring of 20 personnel for sales and marketing as well as R&D positions, the security-focused publisher Wallix’s staff grew to 60 last year. This investment decreased the company’s profitability because it led to a 31.5% increase in payroll expenses. As opposed to -€322 thousand a year earlier, the operating losses of the publisher of privileged access management solutions have in fact increased to -€1.07 million over the past 12 months. The overall outcome changed from -321 K€ to -1.11 M€.
Recruitment will continue in 2016
Due to the effect these hires had on Wallix’s earnings, the company was able to boost its revenue by 33% to €5.3 million as a result. The second half (+44%) saw a particularly noticeable increase in invoicing. The maintenance activity brought in €4.48 million (+31%) for the entire year. The Managed Services division saw a 53% increase in turnover. 30% of the publisher’s total earnings came from sources outside of France. In 2016, it is intended to raise this share to 50%.
Wallix plans to add 20 new employees to its workforce this fiscal year in an effort to strengthen its position across the continent of Europe. The business also plans to grow its network of IT integrators and resellers.
The results of several recently published studies combine to paint a fairly dire picture of corporate cybersecurity, despite the perception that they present, which is more marked by optimism. Or is talking about unconsciousness preferable? According to a study by Sage, 62% of companies have already experienced a fraud attempt. 12% even experienced five or more. In 80% of the affected companies, the infamous president fraud—in which a manager’s identity is stolen in order to obtain a transfer abroad—remains the most prevalent fraud. 14% of victims of internal fraud and 18% of victims of bank tests.
The majority of CFOs (75%) are most concerned with external fraud. Before cyberattacks on financial data, the president fraud and the falsification of bank information are frequently cited. In order to prevent these non-technological frauds, business procedures like double signatures and separating the creator from the validator of payments have been implemented. In many instances, following procedures and maintaining internal vigilance have been sufficient to spot fraud. However, 30% of businesses still confirm their transfers with a straightforward fax! The transition to computerized processing (EBICS TS, via banking portals, etc.), in accordance with the recommendations of professional bodies, is nevertheless well underway.
A lack of knowledge of good practices and rules
However, it is still true that there is a serious lack of understanding about effective information security measures. A Solucom/Conscio study found that 46% of workers are unprepared to respond to social engineering; the president hoax is merely an exaggerated example. However, according to the study’s authors, social engineering is the primary technique for accessing businesses’ information systems or committing fraud, particularly by stealing identities or usernames and passwords.
Only 47% of employees really follow the rules for handling passwords, even though 88% are aware of them. Thus, enforcing adherence to best practices requires a technical mechanism. The same survey also notes that most employees are unaware of the laws governing personal data, posing a serious legal risk to their employers.
Welcome to malware
Social engineering is unquestionably deeply ingrained in cybercriminals’ methods. According to a study released by Cisco, the introduction of ransomware is made possible by attacks that are specifically targeted. A campaign involving this kind of attack would bring in $34 million annually. Being the target of such tactics is quite embarrassing, which likely explains why only 21% of businesses inform their partners, 18% the government, and 15% their insurance company.
Of course, there are variations on the fundamentals of cybercrime to keep them current. Thus, compromising servers is a traditional method of conducting indirect attacks, particularly when using a CMS that hasn’t been updated recently. Thus, between February and October 2015, there was a 221% increase in WordPress domain compromises. The failure to update infrastructure is one of the bad practices that is growing.
Although frequently ignored, browser data leakage is becoming more common; it is estimated that 85% of businesses are affected by malicious extensions. Attacks based on DNS are also on the rise, particularly because security experts and DNS experts don’t frequently collaborate. However, even if it stays within a range of 100 to 200 days, it is estimated that the speed of intrusion detection has increased.
On February 16, 2016, the CIO Strategic Morning will focus on cybersecurity: New threats to the information system.
About these studies
Based on research done among French businesses between November and November 2015, the 2016 Sage Barometer of CFOs: transfer security and fraud prevention. The survey was distributed online. Of the 500 respondents, 20% worked in organizations with fewer than 100 employees, 55% in organizations with 100 to 500 employees, and 25% in organizations with more than 500 employees. The respondents were administrative and financial decision-makers.
With the assistance of Cisco security professionals, the Annual Safety Report 2016 from Cisco analyzes the most significant trends in cybersecurity based on developments in the security sector and those of cybercriminals trying to breach enterprise defenses. Notably, it is based on research that was done among 2,400 security professionals in 12 different nations.
The study Where do French companies stand on cybersecurity awareness? was completed by Conscio Technologies and Solucom. It is based on research done in 2015 on a panel of 28,000 ISAM solution users from 12 significant French companies.
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